Proposed Acquisition

Total Fina Elf.
9 November 2001

TotalFinaElf Offers to Purchase Outstanding PetroFina Shares

Paris - November 9, 2001 - Total Fina Elf S.A. through its subsidiary Total 
Chimie, submitted a draft prospectus to Belgium's Commission Bancaire et 
Financiere (CBF) on November 8, 2001 for a squeeze out to purchase the remaining
90,129 PetroFina shares not yet owned by the TotalFinaElf group, at a price of 
EUR 600 per share (attached coupons 19 et seq.). This amounts to 0.38% of 
PetroFina's capital.

The offer would allow minority PetroFina shareholders to sell their shares 
without being constrained by the limited trading volume of the Euronext Brussels
weekly Public Auction Market, where the PetroFina shares are traded.

Since April 27, 2001, Total Chimie has held the TotalFinaElf group's entire 
shareholding in PetroFina, i.e. 23,480,610 shares representing 99.62% of 
PetroFina's capital, following Total Fina Elf S.A.'s contribution of its shares.

The planned transaction would total EUR 54.1 million.